VETERINARY CHEMISTRY ANALYZERS MARKET ANALYSIS
On the basis of region, the global veterinary chemistry analyzers market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America holds dominant position in the global veterinary chemistry analyzers market. This is owing to increasing animal health expenditure and high demand for animal-derived food in the region. According to American Pet Products Association, the total pet industry expenditure which includes the food, supplies and over the counter medicine, in 2017 was US$ 69.4 billion.
Key market players in the region are focused on adopting acquisition strategies to expand their geographical presence. For instance, in May 2018, Zoetis Inc. and Abaxis Inc. announced the definite merger agreement in which Zoetis Inc. will acquire Abaxis Inc. This acquisition is expected to improve Zoetis Inc.’s presence in the veterinary diagnostics sector.
Asia Pacific is projected to be the fastest growing market over the forecast period, owing to the high incidence of vitamin deficiency, bacterial infection, gout in dogs and increase in awareness of various health issues.
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